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Company with a retirement program

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Lauren has worked for a company with a retirement program, and today is retiring from her job with the amount of $125000 in her retirement account. She decides to withdraw an equal amount from this account, once a year, beginning immediately, and ending 28 years from today (for a total of 29 payments). If the interest rate is 6.25%, solve for the dollar amount of these equal withdrawals such that she uses up the full accumulation.

Reference no: EM131317339

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Company with a retirement program : Lauren has worked for a company with a retirement program, and today is retiring from her job with the amount of $125000 in her retirement account. She decides to withdraw an equal amount from this account,
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